by Peter Norberg
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core element of this Doctor’s thesis is an understanding of the mentality
of financial markets. To this aim, I have made interviews in Swedish merchant
banks and mutual funds. I try to situate the financial market of
Stockholm in its social context. Account is taken of impulses both from
foreign markets to high finance of Stockholm, and of influence from society
to financial markets. The Max Weber thesis of ascetic Protestantism as
a fundament for the modern spirit of capitalism is of main importance in
this investigation. In a secularised version, the puritan ethic has given
rise to a mentality that still guides the evolution of capitalism. Success
in financial markets is most easily achieved by subscribing to the classical
Protestant Ethic.
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Current research |